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CABEI has approved $646 million for El Salvador in 2022

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The Central American Bank for Economic Integration (CABEI) has approved $636 million in new loans for El Salvador in 2022. Of this, 90% of the funds were allocated to the public sector portfolio.

At the multilateral balance of work, established in 1960 to support the integration of Central America, Dante Mosi, president of the institution, said that by the end of November 2022, it will have operations in 11 countries, including Central America and Colombia. Argentina, Cuba said the approvals of the

According to the agency, El Salvador was the country with the most funding for CABEI, with $586 million in the public sector and $60 million in the private sector. The operation accounts for his 19% of this 2022 approved funding.

CABEI has several active portfolios in El Salvador and has funded some of the Bukele administration’s most iconic projects, including the Territorial Management Plan, the construction of the Los Choros viaduct, the rescue of the sports venues and the Mi Nueva Escuela project. offers. Loans were made to supplement the general budget.

Among the latest projects approved are a $100 million loan to the Lempa River Hydroelectric Executive Committee (CEL) and a $200 million loan to offset the imbalance in the fuel subsidy budget. I have.

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CABEI, CA’s main investor

Mossi underscored that CABEI has become the most important multilateral bank for the region, with inflationary pressures and big country central bank adjustments reducing one-third of multilateral bank spending in a much more constrained context. is on the isthmus.

“In times of global crisis with high inflation, high interest rates and limited access to markets, CABEI’s role is more important than ever, with multilateral banks expanding It’s 31% of the total spending we’ve made from our bank,” the banker said.

Next year, regional banks expect new approvals for spending of $3.3 billion and $2.05 billion. The company’s projections put his assets at $15.6237 billion and his loan portfolio at $10.058 billion.

The financial institution has ensured that it continues to enjoy financial strength, with a rating of ‘AA’ from Standard & Poor’s and Japan Ratings and ‘Aa3’ from Moody’s Investor Ratings.

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After El Salvador, the Dominican Republic will receive the most funding from CABEI in 2022, followed by Honduras, Costa Rica and Colombia.

Source: Diario.Elmundo

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